AC MILAN: SECOND CONSECUTIVE PROFIT DRIVEN BY RECORD REVENUE TO SUPPORT THE SPORTING PROJECT

AC Milan today presented its consolidated financial results for the fiscal year ending 30 June 2024, to the Shareholders' Meeting. The results had been approved by the Board of Directors last September.

For the second consecutive year, the Club recorded a net profit, with a consolidated positive result of €4.1 million, consistent with the 2022/23 season. This profit was fueled by record revenues of €457 million, marking a new all-time high for the Club, surpassing the previous season’s record of €404.5 million, representing a +13% increase.

These financial results have supported the continuous strengthening of the sporting project, with over €100 million net invested in the last two transfer windows, net of player sales, and an additional net increase in multi-year player rights valued at €8.4 million. The Club’s investment in its squad is further reflected in the 8% increase in overall wages for all registered Club members compared to the 2022/23 season.

The accelerated financial performance of the Club is largely attributed to the combined growth of several revenue streams. Sponsorship revenues increased to €90.5 million (+€9.7 million compared to the previous fiscal year), driven by the signing of agreements with new counterparts for the current and future seasons. Commercial revenues and royalties also saw an increase, reaching €52.9 million (+€6.4 million), supported by the sale of premium seating at the stadium. Player trading activities also contributed significantly to this result, with revenues from player rights increasing by €45.9 million compared to the previous season, primarily due to capital gains and higher temporary loan income.

A significant contribution to value creation comes from RedBird’s highly qualified network of partners and consultants, whose diverse expertise and extensive international experience have played a crucial role in developing projects across retail, marketing, and innovation areas.

The Club's vision and management model pay particular attention to future generations. During the 2023/24 season, the Club launched "Milan Futuro," a major long-term strategic project to which significant investments have been allocated. These will be reflected in the upcoming financial statements closing on 06/30/25.

It is important to highlight the Club’s overall positive financial performance, despite a reduction in audiovisual and ticketing revenues, primarily impacted by the performance of the men's First Team in European competitions, which saw a decrease of approximately €40 million compared to the previous season.

The financial statement highlights a further consolidation of the Club’s financial position as of 30 June 2024, with a positive consolidated net equity of €196 million, up by approximately €20 million compared to the previous year, and a net financial debt of approximately €50 million.

During the 2023/24 season, the Club further enhanced its international development, with the opening of Casa Milan Dubai, tours and friendly matches in the United States, Australia, and Mexico, among many other global initiatives. The value of the AC Milan brand also improved, as certified by various international studies, including BrandFinance’s analysis, which highlighted AC Milan’s position as the top-growing football brand worldwide in recent years.